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Cryptocurrency Mega Thread


JamesIG

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Chrisjoe wrote:

If I have a position in Etheruem and my stop or limit isn't hit, will it rollover until tomorrow?

 - yes - all positions will remain open until you either close the position, your stop is hit, or your losses on the account cause margin issues which would cause the position to close. We don't 'roll' positions (close and reopen) they simply stay open until the above criteria are hit. 

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Haha, Now I found another issue when I think it was brought up in the past too, I am sorry I know I should read up. I tried to buy btc when it was tradiing at 10800 this morning when it was an obvious gain and guess what, I got a "You cannot currently buy this market to open a position" error popped up. Some smart algorithm knew that a lot of people "fomoing" (fear of missing out) and the system rejected my buy order! and for goodness sake, You all are already charging 0.0416% parking fees for each day and why are u all rejecting our longs? I find its quite ridiculous.

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And it happened again half hour ago when bitcoin dipped. This does seem like a deliberate automated action whenever price dips to a very potentially profitable level. A possible solution iv found - being a savvy scot - is to have orders in the background (granted it eats up your balance with the margin). When price looks good edit to a price that will execute immediately. Voila!

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Hi -  - I appreciate the frustration in not being able to trade this BTG coin, and I want to confirm that we would of course like to offer this as a tradable asset as long as it's possible to do so, and the underlying technology is safe.  At the moment the exchanges which we deal with are yet to list it. Although some exchanges are trading this particular coin they are generally in China and S.Korea, or on exchanges which don't offer fiat withdrawals or trading pairs. We will keep all clients updated as best possible. 

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  • 5 weeks later...


ahsiong wrote:

Is there any tools/app/calculator to determine the margin required and profit/loss for my position at different price level?

Hi - unfortunately we don't have this on offer, but you should be able to set something up in excel using the following information.

ahsiong wrote:

Is it possible to hold both long and short position in a particular cryptocurrency?

For example, if I've some existing long position in ether, can i open new short position? Will doing this close my long position? 

This is possible and you should be able to read more about that here: Force Open

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Hi James thanks for pointing me to the relevant answers and for always helping us in the forum.

 

It's stated "You can open a long and short position on the same market by making sure the ‘force open’ option is selected on your deal ticket". I can see the force open option on my new trade tab. However there's no such option on my new order tab. So how does it work if i want to put in a new order in the opposing direction? I certainly don't wish for my existing position to be closed if my new order is executed.

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Hi Trendfollower, thanks for your long answer. I've always enjoyed reading your detailed analysis and insights in your posts.

 

I've some long position in ether which i opened at quite a low price which i intend to hold for long term. I observed although ether may be in a uptrend, there's always volatility in the market in which there may be time of price weakness. Hence i was thinking of opening short position in such times to gain some profit in the shorter term.

 

I'm a new trader. Hope to hear your opinion on my thoughts and strategy. Thanks.

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Few things,

 

Be careful if you are going short whilst also going long. If you open a short position and the market becomes unlongable then you will not be able to close the short as closing it means to go long. You may be stuck in a short position and give back all your profits.

 

Personally I sold all my ethereum long positions end of last week. Brazil, Korea were all talking about banning cryptocurrency exchange. If this is happening then generally people will be profit taking or selling ethereum. A better strategy could be if you are thinking long term that the price will rise then wait for the correction and add to your position at support when the trend is reversing back up.

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I have only just seen ethers chart. To add to my earlier comment I would be weary about keeping hold of long positions unless they were bought very early on. And now ether has become unborrowable so you can not short the market. Likely because everyone is shorting and therefore ig has reached its risk limit.

 

There is a chance price can keep dropping so you could be giving profits away and if you are stopped out then out with breakeven. Remember if people bought ether at lower prices away and price drops they'll sell or hold. Its unlikely that the majority will buy more especially while waiting for korea stance on cryptocurrency.

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Thanks Situation for your analysis.

Yup I'm holding some ether position which i bought earlier on. It's a pain to see the unrealised profit eroding away while the market correct but I'm still holding on to them as i believe in the long term uptrend. The sell off earlier on in the Asia morning was scary but luckily the bounce up was quick too. Hopefully it'll be generally up from now on, at least in the short term.

 

I was considering to open short position when it reached the peak of about 1400 a few days ago which i felt was too overbought, hence i asked the question of holding both long and short position in this forum. Thanks all for your wonderful analysis and suggestion. It has been useful to build up my trading knowledge.

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